The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.

DUBAI / WAM Dubai International Financial Centre (DIFC) has welcomed Hapag-Lloyd to the centre following the successful completion of its multibillion Dollar merger with United Arab Shipping Company Limited (UASC), a DIFC company. The transaction is one of the largest ever mergers involving a DIFC company or any company based in the Gulf region. With 230 vessels and a combined ...

Abu Dhabi / WAM Abu Dhabi Ports, the master developer, operator and manager of the Emirate’s commercial and community ports as well as Khalifa Industrial Zone, KIZAD, has announced the close of its best-ever cruise season at Abu Dhabi Cruise Terminal with the maiden call of Princess Cruise Lines’ Majestic Princess. The company recorded a growth for the year with ...

DUBAI / WAM Master developer Nakheel has released a construction tender for Nad Al Sheba Mall, its new, 1.4 million square foot shopping, dining and entertainment destination in Nad Al Sheba area of Dubai. The move comes a month after Nakheel Malls began leasing at Nad Al Sheba Mall, which will have 200 shops, restaurants and entertainment outlets, medical clinic ...

Abu Dhabi / WAM For the third straight session and despite a profit booking spree involving blue-chips that hit record highs over the past few days, UAE stock markets continued their positive streak on Wednesday, driven by a bullish performance at the real estate sector. DFM General Index climbed 0.27 percent to close at 3,450 points led by a good ...

ABU DHABI / WAM The Board of Directors of the UAE Central Bank has held its 4th meeting for 2017 under the chairmanship of Khalifa Mohammed Al Kindi, Chairman of the Board. The meeting was attended by Khalid Juma Al Majid, Deputy Chairman, Mubarak Rashed Al Mansoori, the Governor, and Board members.

Abu Dhabi / Emirates Business The financing for Phase 3 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai has been completed. This marks the latest significant milestone for the Masdar-led consortium, with EDF Group’s subsidiary, EDF Energies Nouvelles, which is developing the 800 MW project in partnership with Dubai Electricity and Water Authority (DEWA). A sophisticated financing ...

Dubai / Emirates Business Dubai Properties, a leading Dubai-based real estate master developer and asset manager, has announced the commencement of work on the new Marasi Business Bay marina. The installation of the pontoons, which marked the occasion, took place in the presence of Abdulla Lahej, Group CEO of Dubai Properties at the Marasi Business Bay Promenade. Launched by Dubai ...

Dubai / WAM Inspections carried out by Dubai Municipality before and during the first week of the Holy Month of Ramadan have confirmed that 91 percent of food establishments that display food outside are complying with the hygiene regulations of the Municipality. The inspection also found eight foodstuff warehouses that are non-compliant. Sultan Ali Al Tahir, Head of Food Inspection ...

Dubai / Emirates Business The Dubai Chamber of Commerce and Industry recently organised a series of charitable activities to mark Zayed Humanitarian Day and the support the UAE’s Year of Giving initiative. Organised in collaboration with the Angel Appeal charitable initiative, more than 100 Chamber employees volunteered their time to pack 1,000 Ramadan gift packs containing personal items and distributed ...

Dubai / Emirates Business ENOC Group signed an agreement with Winspec Marine, Singapore’s leading provider of freight-forwarding and logistics. The agreement enables Winspec Singapore to become a key distributor of ENOC’s marine lubricants in Singapore, enabling the expansion of the Group’s lubricants portfolio in one of its key markets. His Excellency Saif Humaid Al Falasi, Group CEO, ENOC, said: “Over ...